Whenever a business receives a cash injection to aid its progress, the doubters suggest it raises questions over its sustainability while those more supportive types are itching to know where the money is going to be spent.
In our case, the latest equity boost will absolutely cement a growth strategy that would have happened anyway, just probably taken a little bit longer to realise.
The support of Accel has been warmly welcomed. We took our time to make the decision over who to partner with and were impressed with the sensibility, the foresight and the rigour demonstrated by the team. They just ‘got it’.
As for Octopus, they’ve shown us a lot of loyalty and will continue alongside us on our journey into new markets and achieving a deeper penetration of the global funds industry.
We are reaching further afield, exercising our passion for the Asian market through the hiring of additional members of staff ‘on the ground’. The Australian story is gaining traction through the dedication and drive of the team in Sydney. Our European proposition is also running at a faster pace and our flagship UK business is going from strength to strength as we continue to pick up market share through our ability to collaboratively offer fully interoperable solutions to our clients.
You could argue that this investment is particularly timely.
2013 sees Calastone pass its fifth trading anniversary, and we’ll be hosting a birthday party towards the end of this month and have invited many of you to join us in that celebration.
The last five years have seen a raft of industry changes. The UK regulator is in a different guise, the RDR (Retail Distribution Review) is driving a rate of evolution of the platform market as the industry raises its game from every angle, the Australian superannuation market continues to flourish with automation lying at the heart of that progress and cross-border fund transactions are on the increase, effortlessly and tirelessly dedicated to facilitating that business and achieving widespread STP.